Centaurus Financial Inc. Has $678,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Centaurus Financial Inc. decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,404 shares of the semiconductor company’s stock after selling 360 shares during the quarter. Centaurus Financial Inc.’s holdings in Marvell Technology were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MRVL. Ameriprise Financial Inc. lifted its stake in Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Marvell Technology by 3.0% in the second quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Marvell Technology by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company’s stock worth $268,711,000 after purchasing an additional 25,983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $100.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. TD Cowen raised Marvell Technology to a “strong-buy” rating in a research report on Monday, September 16th. Evercore ISI upped their price objective on Marvell Technology from $91.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Citigroup reissued a “buy” rating and issued a $91.00 target price on shares of Marvell Technology in a research note on Monday, October 14th. Finally, Benchmark upped their price target on shares of Marvell Technology from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.77.

Marvell Technology Stock Down 0.3 %

MRVL opened at $92.24 on Tuesday. The stock has a fifty day moving average of $80.67 and a 200-day moving average of $73.59. The company has a market capitalization of $81.74 billion, a P/E ratio of -83.10, a P/E/G ratio of 4.02 and a beta of 1.44. Marvell Technology, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $95.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.26 and a current ratio of 1.79.

Marvell Technology (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. Marvell Technology had a negative net margin of 18.30% and a positive return on equity of 4.31%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Marvell Technology, Inc. will post 0.78 EPS for the current year.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is presently -21.62%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the sale, the chief financial officer now directly owns 111,753 shares in the company, valued at $8,255,194.11. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the completion of the transaction, the chief executive officer now owns 208,915 shares of the company’s stock, valued at $15,311,380.35. The trade was a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock valued at $20,899,260 in the last three months. Corporate insiders own 0.33% of the company’s stock.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.